Weath tax
This query is : Resolved
Dilip Datta Choudhury
(Querist)
11 December 2014
In a proprietorship business proprietor invest Rs.1 crore for his business, thus it effect wealth tax at the time of wealth tax calculation.
As a director of a company director share capital of Rs.1 Lakh thus it effect wealth tax at the time of wealth tax calculation.
A property inherited in the year 1981 thus it valued in the year 1981 or current year for calculation of wealth tax.
Jewellery in the year 1992 thus it valued in the year 1992 or current year for calculation of wealth tax.
As a director of a company director share capital of Rs.1 Lakh thus it effect wealth tax at the time of wealth tax calculation.
A property inherited in the year 1981 thus it valued in the year 1981 or current year for calculation of wealth tax.
Jewellery in the year 1992 thus it valued in the year 1992 or current year for calculation of wealth tax.
11 December 2014
only if net assets of individual or huf or company when cal as per act exceeds rs 30 lakhs then chargeable at 1% of such excess else not.
Rupesh Jain
(Expert)
12 December 2014
you have to take net assets if its over rs. 30 lacs then wealth tax applicable.
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